Dallah signs MoU aiming to establish hospital in Jeddah
Dallah Healthcare Services (4004.SE) has signed an MoU with an investment company to found a company to establish and operate a hospital in Northern Jeddah, after agreeing on the terms of the partnership and obtaining regulatory approvals. The new company’s capital will compose of cash and in-kind shares (representing a plot of land north Jeddah). The ownership will be determined after assessing the value of the land, and the MoU is valid for six months and can be renewed afterwards. (Tadawul) Dallah Healthcare: SAR95.27 as of 8 Feb. 2017, Rating: Buy, TP: SAR103.00/share, MCap: USD1,499mn, DALLAH AB/4004.SE
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